Cowen and Company reaffirmed their buy rating on shares of Starbucks Corporation (NASDAQ:SBUX) in a report published on Friday. They currently have a $63.00 price target on the coffee company’s stock.

SBUX has been the topic of a number of other reports. Jefferies Group LLC reiterated a buy rating and issued a $65.00 price target on shares of Starbucks Corporation in a research report on Friday, May 12th. UBS AG set a $67.00 price target on shares of Starbucks Corporation and gave the company a buy rating in a research report on Friday, July 28th. Guggenheim downgraded shares of Starbucks Corporation from a buy rating to a neutral rating in a research report on Friday, July 28th. Piper Jaffray Companies reiterated a buy rating and issued a $70.00 price target on shares of Starbucks Corporation in a research report on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Starbucks Corporation from a hold rating to a sell rating in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-one have assigned a buy rating and three have given a strong buy rating to the company. Starbucks Corporation currently has a consensus rating of Buy and a consensus target price of $64.64.

Shares of Starbucks Corporation (NASDAQ SBUX) opened at 54.93 on Friday. The firm’s 50 day moving average is $55.31 and its 200-day moving average is $58.06. Starbucks Corporation has a 52-week low of $50.84 and a 52-week high of $64.87. The company has a market capitalization of $79.31 billion, a P/E ratio of 27.73 and a beta of 0.78.

Starbucks Corporation (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 27th. The coffee company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.76 billion. Starbucks Corporation had a net margin of 12.93% and a return on equity of 52.82%. Starbucks Corporation’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Equities research analysts anticipate that Starbucks Corporation will post $2.07 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Thursday, August 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. Starbucks Corporation’s dividend payout ratio (DPR) is 50.76%.

In other news, Director Myron E. Ullman III sold 10,000 shares of Starbucks Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $60.63, for a total transaction of $606,300.00. Following the completion of the sale, the director now owns 24,000 shares of the company’s stock, valued at $1,455,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 18,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were purchased at an average cost of $55.30 per share, with a total value of $995,400.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $995,400. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Regent Investment Management LLC lifted its holdings in shares of Starbucks Corporation by 6.8% during the second quarter. Regent Investment Management LLC now owns 4,683 shares of the coffee company’s stock worth $273,000 after buying an additional 300 shares in the last quarter. Cape Cod Five Cents Savings Bank lifted its holdings in shares of Starbucks Corporation by 16.9% during the second quarter. Cape Cod Five Cents Savings Bank now owns 31,902 shares of the coffee company’s stock worth $1,861,000 after buying an additional 4,616 shares in the last quarter. Zevin Asset Management LLC lifted its holdings in shares of Starbucks Corporation by 1.0% during the first quarter. Zevin Asset Management LLC now owns 61,924 shares of the coffee company’s stock worth $3,616,000 after buying an additional 625 shares in the last quarter. Sawtooth Solutions LLC lifted its holdings in shares of Starbucks Corporation by 60.1% during the first quarter. Sawtooth Solutions LLC now owns 18,346 shares of the coffee company’s stock worth $1,071,000 after buying an additional 6,884 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Starbucks Corporation by 52.6% during the first quarter. Toronto Dominion Bank now owns 399,621 shares of the coffee company’s stock worth $23,332,000 after buying an additional 137,795 shares in the last quarter. 70.99% of the stock is owned by institutional investors.

Starbucks Corporation Company Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

Analyst Recommendations for Starbucks Corporation (NASDAQ:SBUX)

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